Kraken Launches Margin Trading For Three BCH Pairings

By Rishma Banerjee

Kraken, which is one of the major exchanges has launched a margin trading facility for three Bitcoin Cash pairings- BCH/XBT, BCH/USD, and BCH/EUR. Leverage trading has also been introduced for XRP which now offers up to 5x leverage on XRP pairings.

Kraken which is the latest cryptocurrency exchange to expand its Bitcoin Cash markets, now allows it’s users to trade BCH/XBT using 2x margin, in addition to having access to BCH/USD and BCH/EUR markets with 2x or 3x leverage. In case of leverage trading for Ripple, the exchange announced that they will now allow 2x and 3x margin for XRP/XBT, and 2x, 3x, 4x, or 5x margin for its XRP/USD and XRP/EUR pairings.

However in spite of the introduction of the new markets, BCH and XRP are still not supported as collateral currencies on Kraken, which means that traders will not be successful in opening leveraged positions against BCH or XRP balances.

With the introduction of the margin trading for BCH and XRP, Kraken now supports leveraged trading for eight cryptocurrencies which include XBT (BTC), ETH, ETC, REP, XMR, and USDT.

The charges for opening of a margin position had been kept at a 0.02 percent and a further 0.02 percent rollover fees is applicable per every four hours that the position is open.

According to reports, Kraken had issued an email to prominent any potential clients to convey the information that the exchange is considering a private offering and to conduct a survey regarding opportunities to invest in the company. The email was also to emphasize that fact that Kraken holds “significant reserves” and currently does not require financing, rather, insisted that the company is anticipating opportunities for acquisition. The email also reportedly states that the company is considering listing its shares with a valuation of $4 billion, with minimum investments expected to be set at $100,000. The email reads:

“The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment.”